1. [2 pts] Find the present value of an investment that is worth $19,513.75 after earning 3% simple interest for 5 1/2 years.

2. The table below shows the activity on the credit card statement of Miss Pepper Mills for the month of April. She started the month with a balance of $342.57.

Date	Activity	Location	Amount
04/05	Payment	Payment	$200.00
04/15	Charge	Gas	$26.37
04/22	Charge	Macys	$105.42
04/25	Charge	Starbucks	$4.24

a. Find the average daily balance.

b. If her card charges an 18.5% annual interest rate on her average daily bank, calculate Miss Pepper Mill's finance charge for the month of April.